Chennai has emerged as one of the top five cities in India attracting real estate investments worth 2.88 billion dollars during the period of 2018-22, according to a study conducted by real estate consulting firm CBRE South Asia. The report revealed that the real estate sector across India received investments worth 43.3 billion dollars during the same period.
Chennai recorded investments worth 0.9 billion dollars during 2018-22 into land acquisition, accounting for 8 percent of the total land acquired in the country since 2018. Over 60 percent of the investments in Chennai were in core and core-plus investment strategies.
CBRE’s Chairman and CEO for India, South East Asia, Middle East, and Africa, Anshuman Magazine stated that they expect investment inflows to remain steady over the next two years, with an anticipated cumulative inflow of 16-17 billion dollars. The report also revealed that the office sector would continue to attract the largest share of institutional inflows, while alternative investments in data centers could gain further traction.
The residential market gained the most traction, accounting for 37 percent of the land acquired in India since 2018, with developers acquiring over 900 acres for residential projects, accounting for 43 percent of the total land acquisitions made in 2022. The Delhi-National Capital Region led the land acquisition activity, capturing over one-fourth of the total land acquired since 2018-22. It was followed by Hyderabad and Mumbai, both with a share of about 14 percent each. Mumbai had a share of 31 percent, while Bengaluru and Hyderabad captured 9 and 7 percent of the total land acquisition, respectively.
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